Human resources management has to plan their activity to reach maximum level of organizational objective. Human resources personnel must have knowledge regarding skills required to perform various organizational jobs. Job analysis is done to get information regarding the requirement of skill, knowledge, experience, ability and other work related requirement. Definitions of job analysis by eminent scholars as; Edwin B. Flippo defined Job Analysis as the process of studying and collecting information relating to the operations and responsibilities of a specific job. According to Michael J. Jucius, “Job Analysis refers to the process of studying the operations, duties and organisational aspects of jobs in order to derive specification or job description “. According to Blum, “A job Analysis is an accurate study of the various job components. It is concerned not only with an analysis of the duties and conditions of work, but also with the individual qualifications of the worker.” Continue reading
HRM Concepts
Motivating Employees with Stock Options
Employee stock options plan is a company wide incentives plan whereby the company contributes shares of its own stock or cash to be used to purchase such stock to a trust established to purchase shares of the firm’s stock for employees. The firm generally makes these contributions annually in proportion to total employee compensation, with a limit of 15% of compensation. The trust holds the stock in individual employee accounts, and distributes it to employees upon retirement, assuming the person has worked long enough to earn ownership of the stock. Many companies use employee stock options plans to retain and attract employees, the objective being to give employees an incentive to behave in ways that will boost the company’s stock price. By issuing employee stock options as compensation, organizations can preserve and generate cash flow. The cash flow comes when the organizations issues new shares and receives the exercise price Continue reading
Methods of Performance Appraisal
Performance appraisal are considered to be the vital tool, to measure the performance of an employee and use the information collected, to optimize the resource of individuals in an organization. It is systematic evaluation of individuals with respect to their task performance and their potential for development individually and collectively. It refers to the assessments of an employee’s actual performance, behavior on jobs and his/her potential for further performance. The main purposes of appraisal are to assess training need to effect promotion and to give high pay. We may say that appraising the performance of an individual has been known as merit rating, but in recent years, we may closure different terminologies have been used to denote this process such as performance appraisal, performance review, performance evaluation, employee appraisal, progress appraisal report, personal preview and so on. Following methods are widely used in Performance Appraisal. 1. Forced-Choice Rating Continue reading
Role Efficacy: Meaning, Aspects and Measurement
What is Role Efficacy? The performance of a person working in an organization depends on his own potential effectiveness, technical competence, managerial experience as well as the design of the role that he performs in the organization. It is the integration of the two that ensures a person’s effectiveness in the organization. Unless a person has the requisite knowledge, technical competence and the skills required for the role, he cannot be effective. If the role does not allow the person to use his competence, and if he constantly feels frustrated in the role, his effectiveness is likely to be low. The integration of a person and the role comes about when the role is able to fulfill the needs of the individual, and when the individual in turn is able to contribute to the evolution of the role. The more we move from role taking to role making, the Continue reading
Factories Act 1948
Factory Act 1948 1. Government regulation o the working condition in factories begins in India in 1881 when the first Indian factories Act was passed. 2. This act was substantially amended in 1934 on the basis ob the recommendations of the Royal commission on labour. 3. The act of 1934 dividend factories into two categories-seasonal and perennial. 4. This act was amended several times. 5. On the eve of independence the national government announced far reaching legislative program for the welfare of workers. 6. As a part of this program, the factories act 1948 was passed. 7. The factories act 1948 is comprehensive in nature and through it the government has tried to implement as Continue reading
Employee Resourcing – Meaning, Objectives and Applications
In the conduct of performance of any business, it has often been regarded that the employees constitute the most important part of the organization. The employees are the backbone and foundation of the business because they make its operation possible. They are part of every success story, as well as the unfortunate failure of the organizations. Employees are the most valuable asset of the business. Overtime, the proper management of the company’s workforce has been called upon by concerned groups and even by the management itself. Various programs and practices have been designed and geared towards improving them and developing their skills so that they can be better assets in the operation of the organization. Successful human management skills have been called upon in order to improve the workforce. Effective employee recruitment and staff selection, improving the performance of the workforce, and reduction of staff turn-over are some of the Continue reading